G7 Trade Ministers Meet on Minerals Supply Amid US-EU Tariff Tensions

PARIS G7 trade ministers gathered in Paris on Wednesday to seek agreement on diversifying supplies of critical minerals dominated by China, while tensions rose over U.S. threats to increase tariffs on European Union-made cars.

The meeting, hosted by France during its G7 presidency, focused on securing supply chains for rare earths and other minerals essential for technologies like electric vehicle batteries and computer chips. French Foreign Trade Minister Nicolas Forissier emphasized the priority ahead of the group's leaders summit in mid-June. "I believe we will make very concrete progress on rare earths and critical minerals, securing our supply chains and ensuring we are not held hostage by certain countries," Forissier told reporters upon arrival.

Officials described broad consensus on reducing reliance on China but noted persistent differences over strategies, such as forming alliances among producing, processing and consuming nations committed to shared standards. The ministers also addressed industrial overcapacity, primarily attributed to China, and reforms to the World Trade Organization to better handle modern trade challenges.

Unity faced strain from U.S. President...